Nomad Foods Hits 52-Week Low: Time to Buy?

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RegExp("[?&]notifications=1(&|#|$)");"desktop"===y&&i&&b.test(window.location.search)&&(i.checked=!0)};be("ybar-mod-notification",(function(e){var t={isUH3:"crunch"===e.getConfig().ytheme,notifContainer:document.getElementById("notification-container"),notifBadge:document.getElementById("notif-badge"),notifMenu:document.getElementById("ybarNotificationMenu"),notifMenuOpener:document.querySelector("#ybarNotificationMenu + label"),notifDropdown:document.getElementById("notifDropdownContainer"),tooltipContainer:document.querySelector(".".concat(Vn)),notifLabel:document.querySelector(".".concat($n))};t.notifDropdown&&ro(e,t)}))}()}};]]>Will AshworthWed, Sep 10, 2025, 4:03 PM 6 min readThere were 22 new 52-week lows on the New York Stock Exchange on Tuesday compared to 69 new 52-week highs. Among the 22 companies hitting new lows, UK frozen foods producer Nomad Foods (NOMD) caught my attention.The company, whose frozen food brands include Birds Eye, Findus, and Iglo, slid to its 18th 52-week low on Tuesday. It last traded this low in October 2023.Dear Adobe Stock Fans, Mark Your Calendars for September 11This Red Light for NVDA Hasn’t Flashed Since It Was a $100 Stock, But This 3:1 Option Strategy Could Be an Escape HatchThis Penny Stock Just Surged 2,000% on a Chainlink Crypto Bet. Should You Buy Its Stock Here?Markets move fast. Keep up by reading our FREE midday Barchart Brief newsletter for exclusive charts, analysis, and headlines.Publicly traded since 2014, the shares have ranged between $10 and $31.85 (May 31, 2021, all-time high). Although the business has struggled over the past year, with its shares down 25%, the company's stock should attract bargain-seeking investors for several reasons.Here’s why I feel this way.Nomad went public in April 2014 as a SPAC (special purpose acquisition company), raising $500 million in its initial public offering, trading on the London Stock Exchange. Like most SPACs, it was formed to acquire an operating business within a specific time frame.The SPAC made its qualifying acquisition in June 2015, paying 2.6 billion euros ($3.04 billion) for Iglo Food Holdings Limited, a leading European frozen foods company. That brought the Birds Eye and Iglo brands into the fold.Five months late in November 2015, it acquired the Findus Group for 500 million British pounds ($677 million), paid for with 415 million British pounds ($562 million) in cash and issuing 8.38 million shares of its stock. That brought the Findus brand to the growing frozen food business.Nomad issued the initial SPAC shares at $10 in April 2014. They were delisted in London on Jan. 11, 2016, switching their listing to New York the next day. The share price closed its opening day at $12.30. They’re up just 15% in the decade since. Fortunately, for early investors, it has paid an attractive dividend, or the annual return would be abysmal.However, one of the founders of the SPAC was Martin Franklin, best known as the CEO who grew Jarden Corp. from nothing over 14 years, selling it to Newell Brands (NWL) in April 2016 for $15.4 billion ($60 a share), which included $2.2 billion in convertible debt.Franklin probably wishes he had gotten more than $21 a share for the cash portion of the deal, given how poorly Newell stock has performed over the years. However, he sold his shares in 2017 and 2018 when they were much higher than today, due to disagreements with management and the board.Terms and Privacy PolicyPrivacy & Cookie SettingsMore InfoS&P 5006,587.47 +55.43 (+0.85%)Dow 3046,108.00 +617.08 (+1.36%)Nasdaq22,043.07 +157.01 (+0.72%)Russell 20002,421.53 +43.52 (+1.83%)VIX14.71 -0.64 (-4.17%)Gold3,675.50 +1.90 (+0.05%)PortfolioSign in to access your portfolioSign inTop gainersOPEN Opendoor Technologies Inc. 10.52 +4.66 (+79.52%)WBD Warner Bros. 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